2328
2nd Ave,
San Diego,
California
CA
92101
Sold For: $2,100,000
Listing ID: 220022776SD
Status:
Closed
Sold Date:
12/02/2022
Year Built:
1924
Major Price Reduction of 15%!!! This property is a must see. Interior Condition is above average. 3 or possible 4 units will be delivered empty at the close of escrow allowing an investor to start with a blank slate to either rent out immediately or upgrade to achieve $2800-$3000/unit in rental income. This well-maintained 4-unit Garden Style Apartment Building is located in Banker’s Hill. The property is minutes from downtown San Diego and only a few blocks away from the world-renowned Balboa Park. Long-term ownership has taken excellent care of the property with little to no deferred maintenance for a new owner. The property underwent a $200,000 renovation in 2006 that included installing new electrical, plumbing, and exterior paint. All 4 units are 1 Bedroom/ 1 Bath about 813 SqFt. In the current condition, we feel confident that a new owner can rent each of the 1 BR units for around $2,700/month. Each unit offers larger-than-average floorplans for 1BRs as well as in-unit Washer & Dryer Hookups. Exterior: Wood/Stucco Number of Furnished Units: 0
Primary Features
County:
San Diego
Price Reduction Date:
2022-12-05T19:48:08+00:00
Property Type:
Residential Income
Year Built:
1924
Interior
Cooling:
no
Cooling Type:
None
Levels:
Two
Number With Range:
4
Number With Refrigerator:
4
Stories Total:
2
External
Fence:
yes
Fencing:
Partial
Lot Size Source:
Other
Number Of Buildings:
1
Location
Country:
US
MLS Area Major:
92101 - San Diego Downtown
Neighborhood:
Bankers Hill
Street Number:
34
Additional
List Agent State License:
01427348
List Office State License:
00530854
Number Of Units Total:
4
Parcel Number:
5331820800
Financial
Cap Rate:
3.98
Gross Scheduled Income:
127200
Net Operating Income:
89455
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Listed by: Thomas McCartin, DRE #01427348 from Marcus & Millichap 858-373-3100
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